So adios, Binance—clearing house, clearing room for the new kids on the block. Liam Miller at NFTevening also points to MegaETH, DeepBook (DEEP), Hyperlane (HYPER), Gomble (GM), and Aster as promising Binance listings in the making. Cool. Exciting, even. Before you rush to spend your hard-earned crypto on these projects, let’s pump the brakes a bit and discuss the unseen. In the crypto wild west, shiny objects come with some pretty nasty outcomes behind them.

Is "Binance-Backed" a Red Flag?

Think about it. Almost 50% of the seed stage investments made by Binance Labs eventually get listed on Binance. Is that indeed an example of their amazing clairvoyance, or a future conflict of interest just simmering until it goes off? I’m not saying that it’s intentional dishonesty. The line between helping good, competitive projects to survive and fostering an insular, self-serving echo chamber gets crossed in a hurry.

This isn't some abstract philosophical debate, either. Remember the ICO craze of 2017? In 2017, everyone and their dog were launching tokens, and exchanges were practically sweating bullets to list them. We all know how that ended. A graveyard of dead projects, burned investors, and a lingering regulatory uncertainty stink that waiting brings.

Are we doomed to repeat history? Probably not exactly. But the fundamental dynamic – the irresistible lure to focus on short term profits at the expense of long-term viability – is an ever-present, powerful current. When Binance, the most powerful exchange in the world, lists projects on its platform, the stakes are even higher. This support can go on to produce harmful ramifications, often unintended.

Web3's Dark Side: Centralization

Let’s examine these projects one by one, without the PR gloss. MegaETH, DeepBook, Hyperlane, Gomble, Aster – these all sound cool in theory. You really think they are leading us into a new age of Web3 independence? Or are they merely building shiny new fortresses on Binance’s already extensive foundation?

Here's an unexpected connection for you: think of the early days of the internet. The promise was radical democratization, a democratized flow of information. What happened? A few major tech companies – Google, Facebook and Amazon – came to dominate the digital economy.

Could the same thing happen in Web3? Absolutely. If Binance becomes the de facto kingmaker, it will be the one deciding what projects rise and fall. This shift has the potential to make this dream a centralized, commercialized nightmare web. Otherwise, we’ll just be trading one set of gatekeepers for another. This new crop, garbed in hoodies and buzzing on “disruptive blockchain tech.”

Tokenomics: The Devil's in the Details

Tokenomics. It includes all the dry, wonky, nitty-gritty details that everyone falls asleep when trying to read. Yet it’s exactly where the greatest risks tend to be found at first. What's the distribution like? Are the founders and early investors sitting on too many of the tokens? What are the vesting schedules? What's the inflation rate?

These aren't just academic questions. They’re the distinction between a sustainable, thriving economic ecosystem and a pump-and-dump operation poised to collapse. I’m not trying to argue that any of these five projects are evil in and of themselves. One thing is clear, every investor should closely scrutinize the tokenomics. Avoid throwing money at projects because Binance will eventually list them.

Here's a harsh truth: in the crypto world, your excitement is often someone else's exit liquidity. Don't let that be you. So, do your own research, and don’t just take someone’s word for it – not even mine!

I understand the allure. The potential for massive gains is intoxicating. But remember the old adage: if it sounds too good to be true, it probably is. Beware of the next big bets. Approach these “next big bets” with healthy skepticism, and most importantly, a clear understanding of the risks involved. Your portfolio will thank you for it.